The anti-graft agency said this while arraigning Mompha at the Lagos Special Offences Court in Ikeja on Wednesday, January 12.
EFCC arraigned Mompha and his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6 billion. The defendants were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect, Olayinka Jimoh a.k.a Nappy Boy, and unlawful transfer of funds for a record label, among others.
According to EFCC, “Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70million.”
Mompha pleaded ‘not guilty’ to the eight counts while Islamob Limited (represented also by Mompha) pleaded not guilty to the first six counts. After his plea, prosecuting counsel, Mr. Rotimi Oyedepo requested for a trial date.
After entertaining the submission of counsel, the presiding judge, Justice Dada, adjourned the matter till January 18 to hear and rule on the bail application. The judge also ordered that Mompha be remanded in EFCC custody until his bail application is heard.